NO HAPPY HOUR FOR HENDO

As well as various property ventures, Dave Henderson has also dabbled in the wine industry. It will come as no surprise for readers to learn that Hendo has also botched up this business as well - and the inevitable posse of creditors are now pursuing him.

Henderson was the sole director of Anthem Holdings - a company owned by RDF investments. RDF is owned by Kristina Buxton who is Hendo's partner. He met her after coming out of bankruptcy in 2000.

Anthem Holdings is one of a collection of companies with similar names and who are all owned or directed by Hendo.

These companies were involved in the production of over 8000 cases of wine, valued at over a million dollars, that are presently sitting in cellars in Wanaka and Cromwell.

Because Anthem Holdings were put into receivership in August last year, the cases of wine cannot be sold until the court decides who owns them.

Not surprisingly, Hendo is again in dispute with the receivers.

He's claiming that while Anthem Holdings never actually produced the wine but just grew the grapes - so it doesn't own the wine so the receivers cannot take possession of it.

Hendo is also claiming the vineyard that grew the grapes is not in receivership.

However land belonging to Anthem Holdings is being sold off by the New Zealand Guardian Trust Company in a mortgagee sale on behalf of the lenders.

Hendo however has told the National Business Review that a covenant on the land states that Gibbston Downs Wines, which is owned by Mr Henderson's company Anthem Vineyards, has rights to the vines.

But says the NBR:

'A caveat in the land title for lot 3599 says there is an agreement to grant an "encumbrance in favour of the Gibbston Downs Wines."

However, no caveat or covenant relating to other lots, except those governing buildings and easements, could be located for NBR by Land Information New Zealand.'

All up, this is yet another Hendo business affair that will get bogged down in the courts again - probably for a good part of this year.